FIRST, THE FEDERAL GOVERNMENT:
CBO FY 2012 budget forecast (August 22, 2012) – outlays, revenues, deficit and debt outstanding at the end of the fiscal year [September 30, 2012]
Spending: $3,563,000,000,000
Income (tax revenues): $2,435,000,000,000
Increase in debt: $1,324,000,000,000 [gross debt at 9/30/2011 vs. 9/30/2012]
Debt as of 9/30/2012: $16,088,000,000,000
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NOW JUST ELIMINATE BUNCH OF ZEROES and MAKE THIS MORE REALISTIC IN TERMS OF YOUR FAMILY and tell me if you think this is responsible financial planning:
Spending: $35,630
Income : $24,350
Increase in debt: $13,240 [gross debt at 9/30/2011 vs. 9/30/2012]
Debt as of 9/30/2012: $160,880
You would never let the above happen to YOUR family but that is what the politicians are doing to the Federal Government.
